House of Reps probe bail-out fund to states

House of Representatives is investigating the alleged diversion of the bailout fund given by the Presidency to State Governments to clear the backlog of salaries owed workers on their payroll.

Some the states under probe of the lawmakers following a motion raised by Sunday Karimu, include Osun, Benue, Ekiti, Bayelsa, Plateau, Oyo, Delta, Niger, Ogun, Nasarawa, Kogi and Abia states.

The lawmaker in the lead debate on the issue, expressed concern that many of the states kept the bailout fund received in the interest yielding banks accounts.

The house set up an ad-hoc committee to investigate the terms and conditions for handing out the bailout fund and their utilization by state governments and reports back to the house within four weeks.

About N689.5 billion was given out by the Presidency and the Central Bank of Nigeria as bailout fund to 27 state governments facing critical cash crunch to clear their salaries arrears.

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